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Good morning,
Today’s edition brings you up to speed on the key developments shaping Nigeria’s economy and housing sector as we head into the weekend. From policy signals and budget priorities to how institutions and investors are responding, the stories reflect where attention is shifting and what it could mean for planning and decision-making in the months ahead.
Whether you are catching up over a quiet morning or reviewing the week before it closes, we hope this helps you stay informed and grounded in the bigger picture.
Enjoy the read, and welcome to the weekend.
2026 Housing Budget: Inside Nigeria's ₦105.9bn Allocation & Renewed Hope Cities
The Federal Ministry of Housing and Urban Development has been allocated ₦105,946,305,272 in the newly presented 2026 Appropriation Bill. While the ₦105.9 billion figure represents a cornerstone of President Tinubu’s "Budget of Consolidation," its true weight lies in how it will be deployed to tackle Nigeria's staggering 15.2 million inadequate housing units.
Nigeria’s Cement Stocks Surge to ₦20.97 Trillion as Investor Confidence Grows
The Nigerian cement sector concluded 2025 as a primary anchor of the Nigerian Exchange (NGX), with the combined market valuation of the industry’s three major players reaching ₦20.97 trillion. Data from the NGX Group confirms that Dangote Cement Plc, BUA Cement Plc, and Lafarge Africa Plc collectively added ₦8.54 trillion in value over the 12 months, representing a staggering 68.7% growth. This industrial rally served as a hedge for investors navigating a fiscal year characterised by 14.45% inflation (as of November 2025) and significant exchange rate fluctuations.
FX MARKET SNAPSHOT
USD > NGN | 1,469.26 | Up by 0.28% |
GDP > NGN | 1,969.15 | Down by 0.03% |
EUR > NGN | 1,705.75 | Up by 0.03% |
CAD > NGN | 1,056.02 | Down by 0.01% |
Economy Watch
President Tinubu Lauds NGX ₦100 Trillion Milestone, Urges Local Investment
President Bola Ahmed Tinubu has lauded the Nigerian Exchange Group (NGX Group), corporate leaders, and the broader investment community for propelling the Nigerian stock market past the historic ₦100 trillion market capitalisation threshold. Describing the milestone as a "signal to the world" of Nigeria’s economic rejuvenation, the President issued a call to action on Thursday, January 8, 2026, urging citizens to deepen their participation in the local capital market to capitalise on the administration’s ongoing fiscal reforms.
Lagos Assembly Passes N4.4 Trillion 2026 Budget: Breakdown of Capital vs Recurrent Spend
In a landmark legislative move on Wednesday, January 7, 2026, the Lagos State House of Assembly, led by Speaker Mudashiru Obasa, officially passed the N4.425 trillion 2026 Appropriation Bill. This record-breaking budget, significantly higher than the initial N3.005 trillion proposal presented by Governor Babajide Sanwo-Olu in late 2025, represents a bold fiscal roadmap for Nigeria’s economic hub. Titled the “Budget of Consolidation,” it aims to complete major infrastructure projects while cushioning the effects of national economic reforms on the residents of Lagos.
Nigeria’s 2026 Budget Breakdown: Sector Allocations & ₦58.18tn Appropriation Highlights
President Bola Tinubu has formally presented the ₦58.18 trillion 2026 Appropriation Bill to a joint session of the National Assembly. Titled the “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” this fiscal roadmap marks a definitive pivot from economic stabilization to a high-growth, results-oriented framework designed to stimulate the Nigerian economy throughout the 2026 fiscal year.
Quote of the day:
“Strong systems matter more than big promises. Real progress shows up in how resources are used.”
Produced by: Amarachi Okeke
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